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Private payrolls unexpectedly drop by 32,000 in November, ADP says
Small businesses with fewer than 50 employees cut 120,000 jobs while larger firms added 90,000, reflecting a broad labor market slowdown, ADP reported.
- On Dec. 3, 2025, ADP Research reported U.S. private-sector employers shed 32,000 jobs in November, with the report produced alongside the Stanford Digital Economy Lab.
- By firm size, ADP found small businesses shed 120,000 jobs, offsetting a 90,000 gain at larger firms .
- By sector, ADP recorded losses of 26,000 in professional and business services, 20,000 in information services, and 18,000 in manufacturing, while pay growth slowed to 4.4% for job‑stayers and 6.3% for job‑changers.
- Economists said the ADP miss raises odds the Federal Reserve will cut rates at the Dec. 9-10 meeting, and markets moved with S&P 500 futures holding gains and Treasury yields falling.
- With government data delayed until Dec. 16, ADP's report arrived as one of the few current measures, showing payrolls have now fallen four times in six months with November's largest drop since March 2023.
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Washington, United States. The private sector eliminated 32,000 jobs in the United States in November, contravening market expectations that expected growth, according to the ADP/Stanford Lab survey published on Wednesday. Last month, most of the jobs eliminated were in the industrial sector and companies with fewer than 50 workers, the study detailed. Analysts anticipated the creation of between 10,000 and 40,000 new jobs, according to consensu…
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Total News Sources46
Leaning Left9Leaning Right6Center15Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 30%
C 50%
R 20%
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